Ad-Hoc News from 6 March 2017

6 March 2017 |

voestalpine resolves to increase registered capital by 0.8% in order to further expand employee shareholding scheme

Subject to the approval of the Supervisory Board, voestalpine AG's Management Board resolved on March 6, 2017 to exercise its power to increase the Company´s registered capital in accordance with § 4 (2b) of its Articles of Association by issuing 1,400,000 new bearer shares at no par value, thus increasing the registered capital by approximately 0.8%. The issue price was fixed at EUR 39.93 per share. The issue price of the shares corresponds to the closing average market price of the voestalpine share over the 5 trading days prior to the resolution of Management Board adopted on March 6, 2017.

The purpose of issuing the new shares is to further expand and safeguard voestalpine´s employee shareholding scheme. The subscription rights of all other shareholders are thus being excluded, and shares may be acquired only by voestalpine Mitarbeiterbeteiligung Privatstiftung, which shall hold the shares for the employees participating in the voestalpine employee shareholding scheme.

Upon completion of the capital increase, the company's capital stock will be EUR 320,394,836.99 and consist of 176,349,163 individual shares. The capital increase is scheduled to take place until the end of March 2017.

As early as 2000, voestalpine has launched an employee shareholding scheme which has subsequently been expanded continually. Currently voestalpine Mitarbeiterbeteiligung Privatstiftung held 12.92% of voestalpine AG's capital. Additionally, voestalpine Mitarbeiterbeteiligung Privatstiftung manages approximately 1.2% of private shares of present and former employees. With the capital increase this share will rise to 13.61% (plus approximately 1.19% of private shares).

This ad-hoc notice constitutes neither an offer for sale nor an invitation to submit an offer to purchase voestalpine AG securities. As the new shares are not being offered for public subscription but rather are being offered for subscription exclusively to the voestalpine Mitarbeiterbeteiligung Privatstiftung holding the shares for the employees participating in the voestalpine shareholding scheme, and as the increase in capital stock amounts to less than 10% of all issued and listed voestalpine shares, no prospectus is required to be issued pursuant to the Austrian Capital Market Act [Kapitalmarktgesetz] or the Austrian Stock Exchange Act [Börsegesetz].

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In its business segments, voestalpine is a globally leading technology and capital goods group with a unique combination of material and processing expertise. With its top-quality products and system solutions using steel and other metals, it is a leading partner to the automotive and consumer goods industries in Europe and to the aerospace, oil and gas industries worldwide. The voestalpine Group is also the world market leader in turnout technology, special rails, tool steel, and special sections.